Forex Trading Library

EURUSD slips lower as 1.1400 remains too strong to break

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The euro currency continued its decline on Friday, losing close to 0.40% on the day.

The declines were set off after price failed to climb above 1.1400 handle.

This led to a rather brief retracement forming a lower high and price fell sharply into the day.

After closing below 1.1261, EURUSD attempts to retest this level.

If there is a reversal near this price level then we expect price to correct lower, toward the 1.1132 level which will mark the mid-way. Further down this level, the next key support is at 1.1000.

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